BSEC Chairman and Four Commissioners Resign Amid Sweeping Restructuring

Four commissioners of the Bangladesh Securities and Exchange Commission (BSEC), including Chairman Khandaker Rashed Maqsood, have resigned.

The resignations were submitted to the Financial Institutions Division under the Ministry of Finance on Thursday, June 4.

The officials who resigned are Chairman Khandaker Rashed Maqsood and Commissioners Md. Mohsin Chowdhury, Md. Ali Akbar, Farzana Lalarukh and Md. Saifuddin.

The resignations come amid prolonged instability in the country's capital market, growing investor dissatisfaction and internal unrest within the regulator.

Khandaker Rashed Maqsood was appointed BSEC chairman for a four-year term on August 18, 2024. Md. Mohsin Chowdhury joined as commissioner on June 2, 2024. The remaining commissioners — Md. Ali Akbar, Farzana Lalarukh and Md. Saifuddin — were appointed on July 29, 2025.

Earlier, Finance Adviser Amir Khasru Mahmud Chowdhury announced that the government would restructure BSEC within two weeks. He made the statement while addressing the "Budget 2026-27: Expectations and Reality" discussion organized by the Economic Reporters Forum (ERF) in Dhaka on June 2.

Following the announcement, speculation intensified over possible changes in the capital market regulator. The resignation of the chairman and commissioners has now accelerated that process.

For several months, BSEC officials and employees have been demanding the chairman's resignation. They organized work stoppages, demonstrations and other protest programs.

At the same time, investors have called for reforms and restructuring of the commission through human chains, protest marches and road blockades, citing concerns over market performance and regulatory effectiveness.